Hercules Capital receives affirmed BBB+ investment grade rating

Kroll Bond Rating Agency, Inc. (KBRA) has affirmed Hercules Capital, Inc.’s investment grade corporate and credit rating at BBB+ with a stable outlook. The affirmation is based on the company’s diversified investment portfolio, which focuses on senior secured first lien venture debt, and its 23-year operating history.

Hercules Capital, a specialty financing provider for venture and growth-stage companies, maintains a low non-accrual rate of 0.3% and has seen a decline in leverage. Analysts note the company’s strong fundamentals, including steady net investment income and a solid distribution coverage, supporting its position in the venture lending space.